ACTIVE

MORGENSTERN

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Financial year 2024 · closed on 31/12/2024

Net result

25,6 k €

+2467.6% YoY

Gross margin

44,3 k €

+140.1% YoY

Equity

94,1 k €

+37.3% YoY

What does MORGENSTERN do?

MORGENSTERN is a Public limited company incorporated in 1977. Its registered office is in Tongeren-Borgloon.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0417.405.648

Incorporation

27/07/1977

Legal form

Public limited company

Registered office

Jaminéstraat 7 box 4
3700 Tongeren-Borgloon · FlandreSee on map

Contributed capital

86 000,00 €

Latest accounts

31/12/2024

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	44,3 k €	+140%	18,5 k €	+94.7%	9,5 k €	-34.2%	14,4 k €	-56.4%	33 k €	+9.5%	30,2 k €	-15.0%	35,5 k €	-67.4%	108,8 k €	+205%	35,7 k €	+118%	16,4 k €	-61.7%	42,7 k €	+52.7%	28 k €	-41.7%	48 k €	-28.9%	67,5 k €	+215%	21,4 k €	-36.7%	33,8 k €	-47.4%	64,3 k €	+33442%	-192,9 €	-101%	13,5 k €
EBITDA	36,3 k €	+260%	10,1 k €	+60.3%	6,3 k €	-44.2%	11,3 k €	-53.6%	24,4 k €	+6.4%	22,9 k €	-29.2%	32,3 k €	-69.3%	105,2 k €	+238%	31,2 k €	+163%	11,8 k €	-68.9%	38 k €	+61.6%	23,5 k €	-45.9%	43,5 k €	-31.2%	63,2 k €	+269%	17,1 k €	-41.3%	29,1 k €	-49.4%	57,6 k €	+1340%	-4,6 k €	-143%	10,7 k €
Operating result	27,8 k €	+5717%	-495,5 €	+91.9%	-6,1 k €	+49.5%	-12,1 k €	-804%	1,7 k €	+404%	-565,6 €	-106%	9,5 k €	-88.6%	83,4 k €	+2334%	3,4 k €	+117%	-20,1 k €	-426%	6,2 k €	+110%	-62,2 k €	-526%	14,6 k €	-56.7%	33,7 k €	+370%	-12,5 k €	-1802%	731,6 €	-97.7%	31,3 k €	+211%	-28,1 k €	-40.2%	-20,1 k €
Net result	25,6 k €	+2468%	-1,1 k €	+84.6%	-7 k €	+51.1%	-14,3 k €	-1623%	939,8 €	+135%	-2,7 k €	-164%	4,2 k €	-94.8%	81,1 k €	+2594%	3 k €	+115%	-20,8 k €	-480%	5,5 k €	+109%	-62,6 k €	-566%	13,4 k €	-58.4%	32,3 k €	+331%	-14 k €	-1541%	-851,9 €	-102%	40,4 k €	+232%	-30,7 k €	-33.4%	-23 k €
Balance sheet
Equity	94,1 k €	+37.3%	68,6 k €	-1.6%	69,6 k €	-9.1%	76,6 k €	-15.7%	91 k €	+1.0%	90 k €	-2.9%	92,7 k €	+4.8%	88,5 k €	+181%	31,5 k €	+10.6%	28,5 k €	-42.1%	49,2 k €	+12.5%	43,8 k €	-58.9%	106,4 k €	+14.5%	93 k €	+53.2%	60,7 k €	-18.7%	74,7 k €	-1.1%	75,5 k €	+115%	35,1 k €	-46.7%	65,8 k €
Total assets	456,2 k €	+12.0%	407,2 k €	-3.7%	422,7 k €	-1.3%	428,4 k €	-4.7%	449,7 k €	+1.8%	441,8 k €	-8.1%	480,7 k €	-3.0%	495,7 k €	+9.2%	454,1 k €	+13.2%	401,2 k €	-0.9%	404,9 k €	-1.7%	411,8 k €	-11.9%	467,3 k €	-1.6%	475 k €	-1.4%	481,8 k €	-3.2%	497,7 k €	-3.7%	516,7 k €	+7.3%	481,6 k €	-0.3%	483,1 k €
Cash	587,5 €	+27613%	2,1 €	-100.0%	4,6 k €	+132%	2 k €	-65.0%	5,7 k €	-30.1%	8,1 k €	-84.0%	50,8 k €	-3.9%	52,9 k €	+1004%	4,8 k €	-28.2%	6,7 k €	-61.4%	17,3 k €	+5.4%	16,4 k €	+145%	6,7 k €	+215%	2,1 k €	+5.0%	2 k €	-70.7%	6,9 k €	-2.9%	7,1 k €	+4.2%	6,8 k €	+228%	2,1 k €
Debts	362,1 k €	+6.9%	338,7 k €	-4.1%	353 k €	+0.4%	351,8 k €	-1.9%	358,7 k €	+2.0%	351,8 k €	-9.3%	388 k €	-4.2%	405,1 k €	-3.7%	420,6 k €	+12.9%	372,7 k €	+4.8%	355,7 k €	-3.4%	368 k €	+2.0%	360,9 k €	-5.6%	382,1 k €	-9.3%	421,1 k €	-0.5%	423 k €	-4.1%	441 k €	-1.2%	446,6 k €	+7.0%	417,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 6 active · 13 ended

Active mandates

Franz Janssen

Managing director · since 30 juin 2023 · until 05 juin 2029

Active

Joseph Janssen

Director · since 30 juin 2023 · until 05 juin 2029

Active

Paul Janssen

Director · since 30 juin 2023 · until 05 juin 2029

Active

Franz Janssen

Managing director

Active

Joseph Janssen

Director

Active

Paul JANSSEN

Director

Active

Ended mandates

Franz Janssen

Managing director · since 07 juin 2017 · until 06 juin 2023

Ended

Franz Janssen

Managing director · since 07 juin 2017

Ended

Joseph Janssen

Director · since 07 juin 2017 · until 06 juin 2023

Ended

Joseph Janssen

Director · since 07 juin 2017

Ended

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/09/2025	08/10/2024	31/07/2023	30/09/2022	29/09/2021	01/10/2020
General meeting	22/08/2025	02/10/2024	30/06/2023	29/09/2022	15/09/2021	08/09/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro modelCorrection	31/12/2024	22/08/2025	02/09/2025	Dutch	PDF
Micro model	31/12/2024	03/06/2025	22/08/2025	Dutch	PDF
Micro model	31/12/2023	02/10/2024	08/10/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	31/07/2023	Dutch	PDF
Micro model	31/12/2021	29/09/2022	30/09/2022	Dutch	PDF
Micro model	31/12/2020	15/09/2021	29/09/2021	Dutch	PDF
Micro model	31/12/2019	08/09/2020	01/10/2020	Dutch	PDF
Abridged model	31/12/2018	02/09/2019	17/09/2019	Dutch	PDF
Micro model	31/12/2017	31/07/2018	03/09/2018	Dutch	PDF
Micro model	31/12/2016	25/09/2017	27/09/2017	Dutch	PDF
Abridged model	31/12/2015	29/07/2016	29/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	25/07/2014	Dutch	PDF
Abridged model	31/12/2012	04/06/2013	27/09/2013	Dutch	PDF
Abridged model	31/12/2011	05/06/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	07/06/2011	26/08/2011	Dutch	PDF
Abridged model	31/12/2009	01/06/2010	13/08/2010	Dutch	PDF
Abridged modelCorrection	31/12/2008	02/06/2009	21/08/2009	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	17/08/2009	Dutch	PDF
Abridged model	31/12/2007	10/06/2008	24/09/2008	Dutch	PDF
Abridged model	31/12/2006	05/06/2007	26/10/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2024 · 6 active · 13 ended

Active mandates

Franz Janssen

Managing director · since 30 juin 2023 · until 05 juin 2029

Active

Joseph Janssen

Director · since 30 juin 2023 · until 05 juin 2029

Active

Paul Janssen

Director · since 30 juin 2023 · until 05 juin 2029

Active

Franz Janssen

Managing director

Active

Joseph Janssen

Director

Active

Paul JANSSEN

Director

Active

Ended mandates

Franz Janssen

Managing director · since 07 juin 2017 · until 06 juin 2023

Ended

Franz Janssen

Managing director · since 07 juin 2017

Ended

Joseph Janssen

Director · since 07 juin 2017 · until 06 juin 2023

Ended

Joseph Janssen

Director · since 07 juin 2017

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/06/2025
HERBENOEMING RAAD VAN BESTUUR
PDF
Mandates06/03/2019
ONTSLAGEN - BENOEMINGEN
PDF
Other11/01/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates27/10/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/07/2005
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2024
Annual accounts 202425,6 k €↑
2023
Annual accounts 2023-1,1 k €↑
2022
Annual accounts 2022-7 k €↑
2021
Annual accounts 2021-14,3 k €↓
2020
Annual accounts 2020939,8 €↑
2019
Annual accounts 2019-2,7 k €↓
2018
Annual accounts 20184,2 k €↓
2017
Annual accounts 201781,1 k €↑
2016
Annual accounts 20163 k €↑
2015
Annual accounts 2015-20,8 k €↓
2014
Annual accounts 20145,5 k €↑
2013
Annual accounts 2013-62,6 k €↓
2012
Annual accounts 201213,4 k €↓
2011
Annual accounts 201132,3 k €↑
2010
Annual accounts 2010-14 k €↓
2009
Annual accounts 2009-851,9 €↓
2008
Annual accounts 200840,4 k €↑
2007
Annual accounts 2007-30,7 k €↓
2006
Annual accounts 2006-23 k €
27/07/1977
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MORGENSTERN

Overview

What does MORGENSTERN do?

Trend over 19 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline